Discussion in 'Stocks' started by noob_trad3r, Jun 16, 2010.
I wonder if it is a buy now since no dividend protects the company?
Wait till we see some life back in the price. They are down 50% from recent highs, there's plenty of time to capture their return. Don't try to catch this falling knife just yet.
Oh yeah 11 billion cut in dividends; another 20 billion set aside in a escrow count for claims; over a billion in a cleaning the black poison and billions more to continue.
We have already seen obama's aggressive attack on the company and his success in pushing BP around and let's not forget the thousands of lawsuits which are being convened under one court; to facilitate and expedite the process. BP two months after this all started is finally starting to make conservative uses of their money for the long term hemorrhage. Unless oil prices skyrocket BP will be in the negative for the entire year and who knows how many more quarters after that and Let's not forget their debt rating was cut to near junk status. Which besides an indicator and projection of their worth is just another slash to their business.
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